Nick Leeson

Who Is Nick Leeson?

Nick Leeson was the rising star of Barings Bank on the Singapore Monetary Exchange (SIMEX) Futures Market in the early 90s. Known as the “Rogue Trader,” Leeson appeared to be generating millions for the bank, while actually incurring massive losses that eventually bankrupted Barings. After serving a prison sentence in Singapore and battling cancer, Leeson returned to the UK, where he served as CEO of Galway United Football Club until his resignation in 2011.

What is his Background?

Nick Leeson began his career as a clerk at Coutts Bank in the mid-80s before joining Barings’ trading floor. Soon after, he was appointed operations manager in the Futures Market at SIMEX, where his London superiors trusted him, as he reported significant profits. Unbeknownst to them, Leeson acted as a rogue trader, hiding his mounting losses in a designated “88888” error account. As these losses grew, he requested additional funds to cover his position, creating a disastrous financial situation. Barings’ executives ultimately discovered the extent of the issue, and the 233-year-old bank declared bankruptcy.

In 1995, after attempting to escape prison by fleeing to Europe, he was arrested in Germany and extradited to Singapore, where he was sentenced to six and a half years. During this time, Leeson was diagnosed with colon cancer and divorced his wife. Upon his release in 1999, he returned to the UK, homeless and with no resources, and authored his first book, which was adapted into the movie *Rogue Trader*, starring Ewan McGregor. In 2001, Leeson obtained a Psychology degree, convinced of the role stress plays in health. In 2005, he published his second book, *Back from the Brink, Coping with Stress*, co-written with psychologist Ivan Tyrell. That same year, he joined Galway United Football Club as Commercial Manager and later became CEO, serving until 2011. Since then, Leeson has become a prolific speaker, sharing his story and insights worldwide.